Due to the continuous increase in the prices of petrol and diesel, the government is under great pressure to cut their prices. To get relief from their increased prices, there is a demand to bring them under the purview of GST. Recently, the Prime Minister and then the Chief Economic Advisor Krishnamurthy Subramaniam also advised to bring it under the purview of GST. Before this, Petroleum Minister Dharmendra Pradhan has also suggested this. However, Finance Minister Nirmala Sitharaman has described it as religious. Now SBI economist Soumikanti Ghosh has said that after being brought under the ambit of GST, the price of petrol and diesel can come to Rs. 68.
Petrol and diesel fall in GST, 0.4% loss to GDP
Saumyakanti Ghosh has said in his assessment that petrol and diesel and the state governments will only incur a revenue loss of one lakh crore rupees which will be 0.4 percent of GDP. This assessment has been done based on the price of crude oil in the international market at $ 60 per barrel and a dollar-rupee exchange rate of 73 rupees per dollar. Both the central and state governments impose their tax on petrol and diesel. States apply VAT on petrol and diesel as per their requirement. The center imposes excise duty. With this, the center's cess is put on it. In some parts of the country, the price of petrol has reached 100 rupees a liter.
Saudi Arabia turned down India's request
Meanwhile, OPEC has ignored India's plea to lift applicable controls on crude oil production. At the same time, there has been an increase in the price of crude oil in the international market. Saudi Arabia has told India that it can use the crude oil it bought at the time when the price of crude oil went down significantly last year. Brent crude oil, which is the most used crude oil, rose nearly one percent to $ 67.44 a barrel on Friday.
Petroleum Minister Dharmendra Pradhan appealed to OPEC countries to reduce the restrictions imposed on production to bring stability in the price of crude oil. He believed that due to the rising crude oil prices in the international market, both the improvement in the economic sector and the demand are having a bad effect.
After Ranveer Allahabadia's objectionable statement on stand-up comedian Samay Raina's show 'Indi
Vande Bharat Express is expanding rapidly across the country. Now South India is also going to ge
A Delhi court has acquitted Chief Minister Arvind Kejriwal, Deputy Chief Minister Manish Sisodia,
The weather is about to change in Delhi. Monsoon has surrounded NCR from three sides. There are i
SL vs AFG: Sri Lanka beat Afghanistan by 132 runs in the second ODI, record biggest win, series 1-1
Man of the match Dhananjay de Silva (29 not out and 3/39) produced an all-round performance as Sr
Shrikant Tyagi: Fugitive Shrikant Tyagi arrested, STF caught from close friend's house in Meerut
Police have arrested Shrikant Tyagi, accused of indecent, abusing, and pushing a woman in Grand O
When people discuss the world’s richest countries, global powers such as the United States,
BCCI has announced its annual central contract. In this, captain Rohit Sharma, Virat Kohli along
Bollywood's cute and talented actress Alia Bhatt is not dependent on any introduction today. Moth
Former Pakistan Prime Minister Imran Khan is going to take out a long march from Friday. Imran ha
